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USOIL - retracement before moving up

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CFDs em Petróleo Bruto (WTI) (FX:USOIL)  
TheTradingDistrict  
FX:USOIL   CFDs em Petróleo Bruto (WTI)
Trend Analysis Chart Patterns thetradingdistrict Oil Crude Oil WTI Crude Oil Futures WTI (CL1!) cl1 LONG breakout Crude Oil WTI
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trendanalysis chartpattern thetradingdistrict oil usoil cl1! cl1 long breakout crudeoil wti
Oil prices finally broke the key level resistance of 54.75's the other day and made a new high at 56.75's. Price is making a retracement back down to our minor support level of 55.40's (zone in green) or perhaps back to our key level resistance, turned support.

We will be monitoring this area for a long entry back to 56.75 and above.
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